Rural Mainstreet Index Hits Lowest Point Since 2020

The Rural Mainstreet Index fell below the growth-neutral level of 50 for the eighth time this year. The monthly survey of bank CEOs across the 10 state agriculture and energy region showed an October reading of 34.6, the lowest since May 2020 and down from 38.5 in September. Weak commodity prices and added volatility from tariffs continue to pressure the rural economy, though most bankers say President Trump’s approach to Chinese trade is appropriate. Farmland prices also continued to slip, dropping to an index level of 37.0 from 45.8 in September. Farm loan delinquency rates, while still low, have climbed from 1.1 percent in June to 1.6 percent this month.